Mr. Ken Booth reports

GITENNES ANNOUNCES DEBT SETTLEMENTS

Gitennes Exploration Inc. has entered into debt settlement agreements with senior officers of the company, whereby, subject to acceptance for filing by the TSX Venture Exchange, the company will issue an aggregate of 1.65 million common shares in the capital of the company at a deemed price of five cents per settlement share in consideration for the settlement of an aggregate of $82,500 in accrued liabilities owing to the creditors in respect of management fees. The company proposed the debt settlements to assist it with preserving its cash for working capital.

The creditors are insiders of the company and, accordingly, the issuance of the settlement shares in connection with the debt settlements is considered a related party transaction, pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company relied on sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, of MI 61-101, as neither the fair market value of the subject matter of nor the fair market value of the settlement shares to be issued pursuant to the debt settlements exceed 25 per cent of the company's market capitalization.

All securities to be issued pursuant to the debt settlements will be subject to a four-month-and-one-day statutory hold period from the date of issuance. The debt settlements are subject to all necessary regulatory approvals, including acceptance for filing by the TSX-V.

About Gitennes Exploration Inc.

Gitennes is in the business of exploring for and advancing mineral properties. The company currently has two properties in the Sept-Iles region of Quebec, where the company is exploring for nickel, niobium and tantalum, and three gold properties in the Chapais-Chibougamau area of Quebec: New Mosher, JMW and Maxwell. All properties are 100 per cent owned by Gitennes, except for New Mosher, which is under option and Gitennes can earn an initial 70 per cent and has the right to increase its ownership to 85 per cent.

We seek Safe Harbor.